Friday, January 21, 2011

TREND WATCH-JAN 24

TREND WATCH------• Last swing high is at 5729. (Lower high)• Last swing low is at 5634. (Higher low)• In the medium term,--- Nifty is in down trend (From 11th January) with targets (+/-30 points) of 5700**, 5630**, 5550. --- The down move will terminate above 5874.• In the short term, --- Nifty is in corrective down move (From 7th January) with targets (+/-10 points) of 5960**, 5900**, 5840**. --- The down move will terminate above 5729.

(** means target achieved)

IMP. NOTES----• Swing high of 5729 formed now as Nifty closed in red today.

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